MISCOR Group acquires American Motive Power

The acquisition expands MISCOR's locomotive expertise and increases its portfolio of services for the rail industry, the company said. MISCOR provides component manufacturing, remanufacturing and repair services for diesel engines, including those manufactured by EMD.

As part of the acquisition, MISCOR appointed Executive Vice President and Chief Operating Officer Richard Tamborski president of AMP. The company also named Pierre Desrosiers vice president of operations; Joseph Fearon, VP of business development and engineering; and Gary Walsh, VP of sales and marketing.

Desrosiers previously served as director of Alstom Transport Canada's locomotive division. Fearon founded Morrison Knudsen Corp.-Rail Systems Group and was the company's president. Walsh previously held various sales and marketing management positions at GE - Transportation and Alstom.

To help finance the acquisition and obtain working capital, MISCOR recently closed on a $15 million financing package with Wells Fargo.